ASK property investment advisors touched another milestone when they raised 520 cr setting up the highest record till now. At this winning moment company CEO and MD Amit Bhagat said they earlier targeted to raise Rs 1,000 cr . He also said the funds being raised will be invested on various projects which include residential development. The interest rates being high in the current time provided golden opportunity for more expansion. The funds will be utilized to manage risk and property dealings. According Sunil Rohokale,executive director of ASK there is excellent opportunity for developers to launch their projects.
Just after the financial crises prevailing in year 2009, ASK managed to raise fund of Rs 340 crore.It focused on small scale real estate projects. Some of the leading financial companies raised 2500 crore development funds after 2008 global crisis. The major role was played by ASK,Indiareit and Aditya Birla Group. Other firms are active in raising funds for realty sector. The 2008 global crisis forced many companies to back out from their previous plans. The funds are now invested on small projects that can work independently. The funds will not be invested on company anymore to avoid any risk. It will help them in tiding over financial crisis.
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